If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • loading

    HDFC Car Loan Eligibility Calculator

    We found 2 HDFC Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 11.6% Fixed
    Up to ₹5,150 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    PAPERLESS APPROVAL OPTION AVAILABLE
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    11.25% - 13.99% Fixed
    Up to ₹2,300 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 5930 Users

    Car Loan BYTES FROM OUR KITCHEN

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

     Loading your search... Loading your search...
  • Car Loan Reviews

    • HDFC Bank Car Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Due to my personal reason and some other issues, I did not went ahead with the HDFC bank and the customer service is good one with them and the response is an immediate one with them. In future, I would like to go ahead with them in future for my needs.
      Was this review helpful? 0
      , tirupur
      Reviewed on May 27, 2017
    • HDFC Bank Car Loan
      "Convenient banking"
      0.5 5.0/5 "Blown Away!"
      The process for the car loan was also a smooth process and I had to difficulties in the documentation. HDFC Bank has always been providing the best of services and the deal on the interest rate and processing charges is affordable and the after loan process is smooth too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 27, 2017
    • HDFC Bank Car Loan
      "Better "
      0.5 4.0/5 "Great!"
      I had made an inquiry with the HDFC bank to get the car loan and the rate of interest was good one with the HDFC bank, also the customer service worked in a better way. In future, I would like to go ahead with the HDFC bank , if I am in need of their assitance.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 26, 2017
    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      The rate of interest for the HDFC bank car loan is high like its around 13% The services are quite fine with them. My car loan .disbursement took 15 days of time documentation was really bad with them it was very lengthy process, It would be good if they reduces rate of interest for used car loans and documentation part.
      Was this review helpful? 0
      , jabalpur
      Reviewed on May 26, 2017
    • HDFC Bank Car Loan
      "Good Experience"
      0.5 4.5/5 "Excellent!"
      I remember car loan got disbursed within three to four days of time. HDFC car loan interest rate is nominal compared to other banks. Still my car loan is running but I could do the part payment option. But there is a foreclosure option after six months of loan.
      Was this review helpful? 0
      , pune
      Reviewed on May 26, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Everything was fine with HDFC Bank. They were happy to serve for my car loan They were very quick in contacting me and informing me the details. I did proceed ahead with them Since I had some financial problem In future if required surely will contact and the rate of interest was 9.75%.
      Was this review helpful? 0
      , udaipur
      Reviewed on May 25, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I tried for a car loan with HDFC bank. During the process of the loan the support and response provided by the bank was too good but bank executive said they cannot process my loan they said they provide loan only to own purpose not for commercial purpose I said OK.
      Was this review helpful? 0
      , madurai
      Reviewed on May 25, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      When I have applied for my car loan with Hdfc bank, they gave very prompt response and they have made very good follow up in concern to my car loan application. I have postponed my plan that was the reason I haven't got the car loan with HDFC bank. Overall the service is better with HDFC bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 24, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got very prompt response from hdfc bank.I have applied for 2 laks rupees loan and the tenured for 7 years I have Pre closed it I have just used it 1.5 years Interest rate and processing fee were nominal.
      Was this review helpful? 0
      , bharuch
      Reviewed on May 24, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I would state that the overall service provided by HDFC Bank is really good. Customer service is very good , Car loan application was postponement from my end I had planned to take it after 2 to 3 months. After applying within a weeks time I had received a call back from the bank.
      Was this review helpful? 0
      , bharuch
      Reviewed on May 24, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have taken a car loan from HDFC Bank and the services was good and very quick. I got my loan within few days. It was a fast process overall with 2 days loan got approved and the rate of interest was 14.5% with was high compare to other banks.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      Experience with the HDFC bank for the car loan was good, but my only cocern here is the rate of interest, as it is very high when compared with other banks its like 14.5% where other resources they give low Rate of interest and lower loan amount I had applied for a loan amount of 3.5 lakhs.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • HDFC Bank Car Loan
      "Good but need some sort of improvisation"
      0.5 4.0/5 "Great!"
      The car loan got approved and disbursed with HDFC bank. The process went very smooth I had faced a hassle because at one incident they have deducted the penalty amount along with the EMI amount, through ECS mode. The Hdfc executive need to inform the customer before they deduct the penalty amount. The rate interest is nominal with HDFC bank.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 23, 2017
    • HDFC Bank Car Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      I have not taken the car loan with the HDFC bank due to some personal reason. Rate of interest was around 12% to 14%. Customer service was fine one with the HDFC bank and the response was good. I have got the call from the HDFC bank the very next day it self.
      Was this review helpful? 1
      , mysore
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      I submitted my car loan application with HDFC bank through online source. But I did not take the loan from the bank as I postponed my plan. I had no issues with the bank when I approached them. In fact, I received very good response from the bank for the loan application.
      Was this review helpful? 0
      , jamnagar
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Everything was fine with HDFC Bank. They were happy to serve for my car loan They were very quick in contacting me and informing me the details. I did proceed ahead with them Since I had some financial problem In future if required surely will contact and the rate of interest was 9.75%.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Better "
      0.5 5.0/5 "Blown Away!"
      I had postponed the plan to get the car loan after some time, so I have cancelled the plan with the HDFC bank for car loan as of now. I am expecting a lower rate from them further I am also expecting them to provide 90% of value of the car as the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Hassle free to get a loan"
      0.5 5.0/5 "Blown Away!"
      I had been a long time customer of HDFC Bank and the services from them has always been on time and the process is also smooth and easy. I am fine about the rate of interest and processing charges for the car loan as it is nominal for me when compared to what the other banks offer.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Need to be customer oriented"
      0.5 1.0/5 "Really Bad"
      When I approached HDFC bank to get a car loan they did not explain me anything about the product and they told they will be giving a call back, but no one gave a call back and still waiting for around 45 days but I haven't got the call back that was the reason I haven't got the loan from HDFC bank.
      Was this review helpful? 2
      , srinagar
      Reviewed on May 22, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      It was good experience with HDFC bank in terms of my car loan process. The process was completed on time and it was good. I had no challenges with HDFC bank for the loan. Customer service and their responsiveness was quite good. Moreover the rate of interest is pretty normal for the car loan.
      Was this review helpful? 0
      , raipur
      Reviewed on May 22, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.